Meson Community Raises $3.5M for Bandwidth Market

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One other crypto undertaking closes a profitable funding spherical.

Meson Community Completes Elevate

Meson Community, a project focussed on constructing an environment friendly bandwidth market for Web3, has raised $3.5 million in a funding spherical.

The spherical was co-led by Libertus, Masks Community, and Hash World, whereas different contributors included Digital Foreign money Group, Youbi Capital, Hashkey, Zonff, SevenX, Everlasting Ventures, CMT Digital, Rarestone Capital, DHVC, and Sanctor Capital. LayerX will even assist the undertaking with rising market affect and adoption. Josh Hannah, Sam Williams, Thomas Bailey, Jack Herrick, Cecilia Li, and Meltem Demirors additionally contributed to the spherical.

Meson Community is aiming to attach customers to bandwidth by its market, appearing as a supply of computing energy for storage layer initiatives like IPFS and Arweave. It’s hoping to offer customers a method to monetize their spare bandwidth by its open market.

Sherlock Shi, CEO of Meson Community, mentioned of the funding spherical:

“Uniswap has demonstrated the ability of enabling long-tail belongings. We’re additionally within the market of serving long-tail belongings and their markets. We purpose to grow to be the world’s largest market in bandwidth.”

The crypto house has seen quite a few funding rounds in latest months, with initiatives like Solana raising $314 million in a personal token sale. Though it hasn’t been revealed precisely how the $3.5 million sum shall be used, Meson Community is at present working its Testnet-2.5. The press launch additionally notes that the funds shall be used “to construct [a] bandwidth market on Web3.”

Disclosure: On the time of writing, the writer of this characteristic had publicity to UNI in a cryptocurrency index. Some founders of Sanctor Capital had been a part of the Crypto Briefing crew and maintain fairness within the firm.

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